The Briefing by Martin Peers, Jessica Lessin and the team at The Information

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The Briefing

By Martin Peers, Jessica Lessin and the team at The Information

Get smarter about the day’s news in tech, media and finance by following Silicon Valley’s most-read executive newsletter.

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Recent Editions

Uber CEO Dara Khosrowshahi. Photo by Bloomberg

Why Uber’s Postmates Deal Doesn’t Deserve Celebration: The Information’s Tech Briefing

By Martin Peers · Jul 6, 2020 5:47pm PDT

Uber's 6% stock price rise on Monday suggests investors like the company's $2.65 billion acquisition of Postmates. And it is, in theory, a way to shore up Uber Eats' restaurant food delivery in some U.S. cities and consolidate the market.But investors should curb their enthusiasm. Postmates’ share of the U.S. market in... Uber's 6% stock price rise on Monday suggests investors like the company's $2.65...

Attendees at the 2018 E3 conference in Los Angeles walk past a booth for Warner Bros. Interactive Entertainment. Photo by Bloomberg

Microsoft Expresses Interest in Acquiring Warner Game Unit

By Jessica Toonkel · Jul 6, 2020 11:35am PDT

Microsoft has expressed interest in acquiring the games division of Warner Bros., the publisher behind popular game franchises based on Batman, Harry Potter and other characters, according to two people familiar with the situation.An acquisition of the business, which consists of game development studios scattered around the U.S., Canada and the... Microsoft has expressed interest in acquiring the games division of Warner Bros., the publisher...

Top, l.-r.: Yelitsa Jean-Charles (Healthy Roots Dolls); Ben Kaufman (Camp); Arianna Huffington (Thrive Global); Carrie SiuButt (Simple Health); David Hsieh (Kaptivo). Bottom: David Youssefnia; Ravs Kaur; Joe Levy; Dave Matthews (Uplevel)

Startups to Watch

How Five Startups Responded to Economic Upheaval

By The Information Staff · Jul 6, 2020 7:01am PDT · 2 comments

The coronavirus pandemic has disrupted the tech startup landscape, driving some companies out of business and pushing others to the brink. Yet some firms that make products suited to remote working and social distancing have seen their sales rise sharply. Other companies have managed to quickly reconfigure their operations to support new... The coronavirus pandemic has disrupted the tech startup landscape, driving some companies out of...

The Tech and Media Culture War That Isn’t

By Jessica E. Lessin · Jul 4, 2020 7:46am PDT · 1 comment

The Tech and Media Culture War That Isn’t

By Jessica E. Lessin · Jul 4, 2020 7:46am PDT · 1 comment

Reporters, tech investors and executives like to think they are at the center of the world. And this week, based on conversations on Twitter, it briefly felt like they were. For months, a handful of outspoken venture capitalists have been attacking journalists for 1) downplaying coronavirus earlier this year and 2) just generally being... Reporters, tech investors and executives like to think they are at the center of the world. And...

The Information’s 411 — A Little More Moderation

By Tom Dotan · Jul 3, 2020 12:13pm PDT

We talk with John Redgrave, the CEO of content moderation startup Sentropy, about the challenges of curbing hate speech online. Then Cory checks in on the state of the travel industry with Jon Staff, the CEO of vacation startup Getaway. We talk with John Redgrave, the CEO of content moderation startup Sentropy, about the challenges...

Lemonade executives ringing in the company's IPO at the New York Stock Exchange. Photo by NYSE

Lemonade’s IPO Lesson: The Information’s Tech Briefing

By Martin Peers · Jul 2, 2020 5:31pm PDT

Next time a venture capitalist like Bill Gurley complains about the IPO process, expect them to use Lemonade’s IPO as Exhibit A. The insurance tech firm priced its IPO at $29 a share this week, implying a market capitalization well below its most recent private valuation of $2.1 billion.Yet when Lemonade stock started trading Thursday... Next time a venture capitalist like Bill Gurley complains about the IPO process, expect them to...

Ron Conway (left) and Pharrell Williams. Photos by Bloomberg; AP

Pharrell Williams, Ron Conway Teaming Up for New Venture Fund

By Kate Clark · Jul 2, 2020 4:10pm PDT

Veteran tech investor and SV Angel founder Ron Conway is working with Grammy Award–winning musician Pharrell Williams to raise a venture capital fund, according to two people familiar with the matter. The new fund aims to make investments in startups led by underrepresented minorities.The pair are currently in discussions with limited... Veteran tech investor and SV Angel founder Ron Conway is working with Grammy Award–winning...

The Information’s News Summer School: The Schedule

By The Information Staff · Jul 2, 2020 11:46am PDT · 1 comment

The Information’s News Summer School: The Schedule

By The Information Staff · Jul 2, 2020 11:46am PDT · 1 comment

We are looking forward to gathering with more than 3,200 students this month to explore some of the biggest opportunities in journalism at this moment. Below are the overarching topics for each section. Please check back here frequently, as well as the class Facebook group, for more details about class topics as well as occasional pre- and... We are looking forward to gathering with more than 3,200 students this month to explore some of...

Illustration by J.Claeys

Uber CEO Wants to Shift More Engineering Jobs to India, Sparking Internal Debate

By Amir Efrati · Jul 2, 2020 7:01am PDT · 5 comments

Since Dara Khosrowshahi became CEO of Uber in 2017, he has been steadily pushing his engineering team to move jobs to India as a way of saving money. Despite some resistance from his top technology executive, Khosrowshahi made progress: about 15% of Uber’s engineering team, or about 600 people, is now in India. That’s up from 80... Since Dara Khosrowshahi became CEO of Uber in 2017, he has been steadily pushing his engineering...

Customers checking into an Apple store in San Francisco in June. Photo by Bloomberg

What’s Different for Tech in the Second Wave: The Information’s Tech Briefing

By Martin Peers · Jul 1, 2020 5:31pm PDT

What’s interesting about the latest in pandemic-related news, from a business perspective, is what has changed since the beginning—and what hasn’t. As infections rise sharply, we’re seeing reports of a second wave of layoffs as businesses that had reopened close again. What’s different from late March, though, is... What’s interesting about the latest in pandemic-related news, from a business perspective,...

Facebook CEO Mark Zuckerberg. Photo by Bloomberg; art by Mike Sullivan.

Zuckerberg Tells Facebook Staff He Expects Advertisers to Return ‘Soon Enough’

By Alex Heath · Jul 1, 2020 2:49pm PDT · 9 comments

Facebook CEO Mark Zuckerberg told employees he was reluctant to bow to the threats of a growing ad boycott, saying in private remarks that “my guess is that all these advertisers will be back on the platform soon enough.”Zuckerberg gave his thoughts on the boycott, which now includes large brands like Starbucks and Coca-Cola, during... Facebook CEO Mark Zuckerberg told employees he was reluctant to bow to the threats of a growing...

WarnerMedia's new CTO Richard Tom and new CEO Jason Kilar in 2015, when the two worked together at Vessel. Photo by AP

Kilar’s Radical Vision for WarnerMedia: Putting Consumers First

By Jessica Toonkel · Jul 1, 2020 7:00am PDT · 2 comments

WarnerMedia's new CTO Richard Tom and new CEO Jason Kilar in 2015, when the two worked together at Vessel. Photo by AP

Kilar’s Radical Vision for WarnerMedia: Putting Consumers First

By Jessica Toonkel · Jul 1, 2020 7:00am PDT · 2 comments

A few weeks ago, WarnerMedia’s new CEO, Jason Kilar, met with a group of executives developing a version of the company’s HBO Max streaming service that would carry commercials. WarnerMedia plans to make this version cheaper than the $15 a month commercial-free offering that debuted last month.After reviewing the plan, Kilar politely... A few weeks ago, WarnerMedia’s new CEO, Jason Kilar, met with a group of executives...

YouTube CEO Susan Wojcicki. Photo by Bloomberg

Google’s Latest TV Price Hike: The Information’s Tech Briefing

By Martin Peers · Jun 30, 2020 5:48pm PDT · 3 comments

Two years ago, I ditched my cable television subscription for YouTube TV, an internet bundle of television channels wrapped in the kind of slick interface you would expect from the Google-owned streaming service. The next year, YouTube bumped the price up to $50 a month from $40, which I accepted reluctantly because they added HGTV and some... Two years ago, I ditched my cable television subscription for YouTube TV, an internet bundle of...

TikTok Vulnerable to Fake Followers, Security Firm Warns

By Alex Heath · Jun 30, 2020 10:20am PDT

TikTok has grown into one of the most popular apps in the world while largely avoiding the prevalence of fake accounts that plague its older peers in social media. But it could lose that edge if it doesn’t strengthen its defenses, new research shows. The Chinese-owned video app currently relies on security measures that can be... TikTok has grown into one of the most popular apps in the world while largely avoiding the...

Basecamp's David Heinemeier Hansson. Photo provided by Hansson

The Big Interview

The Tech Entrepreneur Who Loves to Troll Silicon Valley

By Zoë Bernard · Jun 30, 2020 7:01am PDT · 3 comments

Earlier this month, David Heinemeier Hansson opened up Twitter and laced into Apple, describing the company as a “gangster” after it threatened to remove a new email app by his company, Basecamp, from the App Store for violating Apple policies. Hansson—who co-founded Basecamp with Jason Fried—has mastered the ability of... Earlier this month, David Heinemeier Hansson opened up Twitter and laced into Apple, describing...

Apple CEO Tim Cook. Photo by Bloomberg

Apple’s News Loss: The Information’s Tech Briefing

By Martin Peers · Jun 29, 2020 5:31pm PDT

Apple CEO Tim Cook. Photo by Bloomberg

Apple’s News Loss: The Information’s Tech Briefing

By Martin Peers · Jun 29, 2020 5:31pm PDT

The value of Apple’s free News app shrank just a little on Monday after the New York Times said it would pull the few articles it made available for the service. More broadly, The Times’ decision suggests why Apple may face headwinds in its efforts to make its giant services business even bigger.The Times didn’t like the fact... The value of Apple’s free News app shrank just a little on Monday after the New York Times...

Katerra CEO Paal Kibsgaard, shown in 2018. Photo: Bloomberg

SoftBank-Backed Katerra Lays Off More Than 400 Employees

By Cory Weinberg · Jun 29, 2020 4:31pm PDT

Construction startup Katerra, which has raised more than $1 billion from SoftBank’s Vision Fund, laid off more than 400 people on Monday, people familiar with the matter said. It is the latest of at least four rounds of cuts at the Menlo Park, Calif.-based startup since last fall.The layoffs amounted to 7% of the staff, a company... Construction startup Katerra, which has raised more than $1 billion from SoftBank’s Vision...

Alex Cole of VMG Partners. Photo: VMG

Tech’s Hidden Diversity Problem: Executive Headhunters

By Cory Weinberg · Jun 29, 2020 10:01am PDT

Executive search firm True often gets the call when hot tech companies seek to fill key jobs. The New Jersey–based outfit has grown as quickly as some of its startup clients, having hired 350 employees across several continents since its founding eight years ago. True resembles its tech industry clients in another way: Just one of the... Executive search firm True often gets the call when hot tech companies seek to fill key jobs. The...

Snowflake CEO Frank Slootman. Photo by Snowflake

IPO Contender Snowflake on Pace for $400 Million in 2020 Revenue

By Kevin McLaughlin · Jun 29, 2020 7:01am PDT

If Snowflake goes public this year, as many watchers of the subscription software company expect, its soaring revenue will be a big reason why. The Information has learned that the company—which offers a type of cloud database known as a data warehouse—is on track to hit $400 million in revenue in 2020, if current sales trends... If Snowflake goes public this year, as many watchers of the subscription software company expect,...

Here’s an Idea for Advertisers Leaving Facebook—Support News

By Jessica E. Lessin · Jun 27, 2020 7:45am PDT · 1 comment

Here’s an Idea for Advertisers Leaving Facebook—Support News

By Jessica E. Lessin · Jun 27, 2020 7:45am PDT · 1 comment

The march of digital advertising heavyweights refusing to advertise on Facebook took some major steps forward this week, with Verizon and Unilever joining the boycott. The brands, and many others, want Facebook to do a better job removing hate speech and misinformation. Mark Zuckerberg announced some new measures to do so Friday, but the brands... The march of digital advertising heavyweights refusing to advertise on Facebook took some major...